7,800 Shares in Preferred Bank (NASDAQ:PFBC) Acquired by Denali Advisors LLC

Denali Advisors LLC purchased a new position in shares of Preferred Bank (NASDAQ:PFBC) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 7,800 shares of the bank’s stock, valued at approximately $674,000. Denali Advisors LLC owned about 0.05% of Preferred Bank at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Preferred Bank by 10.2% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 7,513 shares of the bank’s stock worth $598,000 after purchasing an additional 694 shares during the last quarter. Meritage Portfolio Management acquired a new stake in Preferred Bank during the 3rd quarter worth about $366,000. Los Angeles Capital Management LLC raised its stake in shares of Preferred Bank by 46.6% during the 3rd quarter. Los Angeles Capital Management LLC now owns 8,183 shares of the bank’s stock valued at $657,000 after buying an additional 2,600 shares during the last quarter. Versor Investments LP lifted its holdings in shares of Preferred Bank by 28.7% in the 3rd quarter. Versor Investments LP now owns 16,154 shares of the bank’s stock valued at $1,296,000 after buying an additional 3,600 shares during the period. Finally, GSA Capital Partners LLP boosted its stake in shares of Preferred Bank by 62.5% in the third quarter. GSA Capital Partners LLP now owns 31,726 shares of the bank’s stock worth $2,546,000 after buying an additional 12,197 shares during the last quarter. 72.77% of the stock is currently owned by institutional investors and hedge funds.

Preferred Bank Price Performance

Shares of Preferred Bank stock opened at $87.29 on Thursday. The firm has a market cap of $1.26 billion, a PE ratio of 9.06 and a beta of 0.97. Preferred Bank has a twelve month low of $69.69 and a twelve month high of $99.78. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.19. The business has a 50-day moving average price of $87.76 and a 200 day moving average price of $86.10.

Preferred Bank (NASDAQ:PFBC) last posted its quarterly earnings data on Monday, January 27th. The bank reported $2.25 EPS for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.17). Preferred Bank had a net margin of 25.00% and a return on equity of 17.80%. Sell-side analysts predict that Preferred Bank will post 9.81 earnings per share for the current fiscal year.

Preferred Bank Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 23rd. Shareholders of record on Thursday, January 9th were given a dividend of $0.75 per share. The ex-dividend date of this dividend was Friday, January 10th. This is a boost from Preferred Bank’s previous quarterly dividend of $0.70. This represents a $3.00 dividend on an annualized basis and a yield of 3.44%. Preferred Bank’s dividend payout ratio is currently 31.15%.

Analysts Set New Price Targets

Several brokerages recently weighed in on PFBC. Stephens reiterated an “equal weight” rating and set a $100.00 price target on shares of Preferred Bank in a research report on Thursday, January 30th. DA Davidson lifted their target price on shares of Preferred Bank from $98.00 to $101.00 and gave the company a “neutral” rating in a report on Wednesday, January 29th. Finally, Piper Sandler increased their price target on shares of Preferred Bank from $101.00 to $111.00 and gave the stock an “overweight” rating in a report on Friday, January 31st.

About Preferred Bank

Preferred Bank provides various commercial banking products and services to small and mid-sized businesses and their owners, entrepreneurs, real estate developers and investors, professionals, and high net worth individuals. The company accepts checking, savings, and money market deposit accounts; fixed-rate and fixed maturity retail, and non-retail certificates of deposit; and individual retirement accounts.